Corporate India doesn’t require dummies at work. Companies have learnt the lesson for slowdown and realized the need for people who can handle shocks and manage teams in a crisis on the board, reports Writankar Mukherjee from The Economic Times … Click here to read ahead
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The investigation of large-magnitude incidents is fraught with difficulties and the process of establishing the primary cause of an incident often requires an understanding of human nature in addition to the necessary technical and engineering skills. The salient non-technical features that are common to the investigation of large-magnitude events are discussed in general. The investigation [...]
We have recently experienced an unprecedented time in the global financial markets. Not surprisingly, risk managers and the techniques they employ are under fire from market participants, regulators, financial reporters, and shareholders alike. Ironically, over the last fifteen years we have witnessed significant advances in the risk management profession, from both the institutional and regulatory [...]
South Korea experienced a financial crisis in 1997 after more than 30 years of fast eco-nomic growth. During the crisis its gross domestic product (GDP) decreased sharply and many enterprises went bankrupt. The stated-owned banks in South Korea suffered huge losses and investors lost confidence in investing in the South Korean financial market. One result [...]
There has been a paradigm shift in Disaster Management recently as prevention, preparedness and mitigation are being given more importance compared to the traditional rescue, relief and rehabilitation. Under this paradigm, Government of India and UNDP launched the ‘Disaster Risk Management’ (DRM) programme in 169 districts across 17 states in the country, including in Maharashtra.
In [...]
RSA (formerly Royal & SunAlliance) has enjoyed a remarkable turnaround in its fortunes in the past few years. After experiencing what the Financial Times described as a “near death experience” in 2002, it has recorded several years of increased profitability, rising share prices and positive ratings developments. Although all shares have recently felt the effects [...]
The real estate sector once again is in the news for all the cruel reasons. Just as the world stood on the verge of the recovery from one of the most severe global economoc melt down, here comes a news that shook the entire world by surprise. Did the Dubai Crisis happened suddenly or did [...]
[youtube]www.youtube.com/watch?v=7g_d-phoUrU[/youtube]Verizon Communications acquired MCI/WorldCom and SBC Communications acquired AT&T Corporation, which had been in business since the 19th Century. The acquisition of MCI/WorldCom was the direct result of the behavior of WorldCom’s senior managers as documented above. While it can be argued that the demise of AT&T Corp. was not wholly attributable to WorldCom’s behavior, [...]
A case study from the World Bank covering the topic disaster risk management. It refers to the earthquake that struck Mexico City in September 1985 took more than 5,000 lives and damaged the housing of about 180,000 families. The case puts forward the brilliant work done by the the agency that was set up three [...]
On September 15, 2008, Lehman Brothers filed for bankruptcy. With $639 billion in assets and $619 billion in debt, Lehman’s bankruptcy filing was the largest in history, as its assets far surpassed those of previous bankrupt giants such as WorldCom and Enron. Lehman was the fourth-largest U.S. investment bank at the time of its collapse…read [...]